Kerry Smith

  • Distinguished Sustainability Scientist, Julie Ann Wrigley Global Institute of Sustainability
  • Emeritus Regents' Professor and Emeritus University Professor of Economics, Department of Economics, W. P. Carey School of Business

Department of Economics
Arizona State University
PO Box 873806
Tempe, AZ 85287-3806


Kerry Smith is a professor of environmental economics at the W.P. Carey School of Business at ASU. He directs the Center for Environmental Economics and Sustainability Policy in the L. William Seidman Research Institute, which serves as a link between the local, national and international business communities and the W.P. Carey School of Business. He is a member of the National Academy of Sciences and a university fellow at Resources for the Future, a nonprofit think tank based in Washington, D.C.. He is also a fellow of the Association of Environmental and Resource Economists, and of the American Agricultural Economics Association. Smith came to ASU from North Carolina State, where he was a University Distinguished Professor and the Director of the Center for Environmental and Resource Economic Policy.


economics of ecosystem services; general equilibrium welfare measurement; economic adaptation and climate change; climate change; economic valuation; energy economics; energy policy; environmental policy; recreation; real estate; natural resource management; water resource management; econometrics; climate change impacts; air quality; utilities regulation; land use change; modeling and simulation; energy conservation; conservation policy


PhD, Economics, Rutgers University, 1970

AB, Economics, Rutgers University, 1966

Working Papers


Fishman, J. and V. K. Smith. 2013. A direct test of the “explanation” for incomplete stratification in vertical sorting models. NBER Working Paper Series 19387. (link)

Journal Articles


Abbott, J. K., H. A. Klaiber and V. K. Smith. 2015. Economic behavior, market signals, and urban ecology. NBER Working Paper Series, Working Paper 20959. (link)

Klaiber, H. A., J. K. Abbott and V. K. Smith. 2015. Some like it (less) hot: Extracting tradeoff measures for physically coupled amenities. NBER Working Paper Series Working Paper 21051. (link)


Klaiber, H. A., V. K. Smith, M. Kaminsky and A. Strong. 2014. Measuring price elasticities for residential water demand with limited information. Land Economics 90(1):100-113.

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Book Chapters

In Press

Zhao, M. and V. K. Smith. In Press. Residential water management: An economic perspective. In: Dinar, A. and K. Schwabe eds., Handbook of Water Research.


Smith, V. K. 2012. Comments on "Regulatory choice with pollution and innovation". Pp. 74-78 In: Fullerton, D. and C. Wolfram eds., The Design and Implementation of U.S. Climate Policy. NBER, University of Chicago Press.

Smith, V. K. 2012. How can policy encourage economically sensible climate adaptation?. Pp. 229-242 In: Fullerton, D. and C. Wolfram eds., The Design and Implementation of U.S. Climate Policy. NBER, University of Chicago Press.

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Smith, B. and V. K. Smith. 2014. Anticipating neighborhood level changes in water demand. Poster presented at the 16th Annual CAP LTER Poster Symposum and All Scientists Meeting, January 17, 2014, Skysong, Scottsdale, AZ.


Fishman, J. and V. K. Smith. 2013. Sorting, attitude and preference alignment for local public goods. Poster presented at the 11 January 2013, 15th Annual CAP LTER Poster Symposium and All Scientist Meeting 2013, Skysong, Scottsdale, AZ. (link)



Smith, V. K. 2014. Can environmental bonds manage policy induced risks?. Presentation at the Yale Environmental Economics Seminar, November 12, 2014, The Yale Center for Business and the Environment, New Haven, CT.

Smith, V. K. 2014. Securitizing policy induced environmental risks. Presentation at the Economics and Environmental Policy Research Network Symposium 2014, October 15, 2014, University of Ottawa, Ottawa, ON, Canada. Presented October 15, 2014 at the Economics and Environmental Policy Research Network Symposium 2014, University of Ottawa, Ottawa, ON, Canada.


Smith, V. K. 2012. Designing non-market valuation strategies for project evaluation: Lessons from literature and practice. Presented May 17, 2012 at the International Symposium on CVM Guidelines, Korean Development Institute, Seoul, South Korea.

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Larson, K. L., D. D. White, P. Gober, C. W. Kirkwood, V. K. Smith, M. C. Nelson, C. L. Redman and S. K. Wittlinger. 2013. Advancing science in support of water policy and urban climate change adaptation at Arizona State University’s Decision Center for a Desert City: A synthesis of interdisciplinary research on climate, water, and decision making under uncertainty. Decision Center for a Desert City, Arizona State University. Technical Report 13-02. (link)


Smith, V. K. 2010. Pre-positioned policy as public adaptation to climate change. Resources for the Future. Issue Brief 10-07.


Harlan, S. L., M. Budruk, A. Gustafson, K. L. Larson, D. M. Ruddell, V. K. Smith, A. Y. Wutich and S. T. Yabiku. 2007. Phoenix area social survey 2006 highlights: Community and environment in a desert metropolis. Center for Environmental Studies, ASU. Central Arizona - Phoenix Long-Term Ecological Research Series 4, Center for Environmental Studies, Arizona State Uni. (link)